DEUTSCHE ASSET MANAGEMENT: THE NEXT GENERATION OF ASSET MANAGEMENT

Deutsche Asset Management is one of the world's largest investment managers -- a global organization committed to performance, innovation and service. Our combination of talents and capabilities is ideally suited to the needs of today's institutional investor:

• Global Perspective, Local Expertise -- delivered by more than 600 investment and client service professionals working in an integrated worldwide network of offices.

• Big Ideas, Dynamic Innovation -- focused on leveraging the latest research, technology and scientific theory to deliver practical solutions to the challenges of today's market.

• Disciplined Processes, Consistent Performance -- emphasizing a team-based approach to investment management, which brings together expertise in geographic markets, industry sectors, asset classes and investment styles.

• Customized Solutions, Rewarding Relationships -- based on a consultative approach to client service and a comprehensive focus on meeting clients' aggregate business and portfolio challenges.

At Deutsche Asset Management, we have developed a diverse, integrated suite of investment products and services, as well as a full range of asset management services such as transition management, currency management and pension strategies.

In addition, as institutions continue to broaden the scope of their investment programs, we feel it is especially important to offer our clients substantial capabilities and experience in key alternative asset classes such as absolute return strategies, private equity and real estate:

• With 120 professionals located around the world, our Absolute Return Strategies group is one of the largest and most experienced, bringing our clients a range of single- and multi-manager funds, core-satellite strategies and customized hedge fund allocations.

• Real estate funds and securities can be accessed through DB Real Estate, one of the world's largest advisors of combined real estate property and real estate equity securities.

• Deutsche Asset Management also provides institutional investors with access to the Bank's 17 years of experience in private equity markets, as well as an ability to invest across a variety of strategies, industries and regions.

Deutsche Asset Management Canada Limited currently has more than 35 clients with almost C$6 billion in assets under management.* The organization has been bolstered in recent years through Deutsche Bank's acquisitions of Morgan Grenfell, Bankers Trust, and, most recently, Zurich Scudder Investments. We have been managing assets on behalf of Canadian institutional investors for more than 10 years. (*June 30, 2002)

Deutsche Asset Management is the marketing name in the Americas for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Bank Securities Inc., Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc., Deutsche Asset Management Canada Ltd., DB Investment Managers, Inc. and Scudder Trust Company.